This article has been revised and corrected from the original version.
A Class A, 750,000-square-foot, multi-building industrial project known as 101 Logistics Center located in Oxnard is fully entitled and ready for leasing.
“We are beyond excited about 101 Logistics Center becoming a reality,” said Scott Sowanick, managing director and partner at Stream Realty Partners, the developer of the property which purchased the 41-acre site in June of last year.
“Our team has worked tirelessly on the opportunity, and, despite the economic fluctuations, the fundamental supply and demand has never been stronger than today,” Sowanick added.
Stream appointed Newmark Group Inc. to lease the fully entitled property, at which buildings will range from approximately 110,000 square feet to 308,000 square feet and provide tenants with a variety of leasing terms.
The buildings will offer tenants 32- to 40-foot warehouse clear heights, substantial dock-high loading capabilities, fully secured truck courts, power capacity, sprinklers, warehouse lighting, EV charging stations and more.
“101 Logistics Center is the first development of its scale in West Ventura County for more than 20 years,” Patrick DuRoss, an executive managing director at Newmark, said. “The project provides a much-needed opportunity for companies to grow within the region, offering real estate and amenities necessary to accommodate their needs.”
DuRoss will handle the leasing for the project, along with Newmark’s vice chairman John DeGrinis, executive managing director Jeff Abraham and associate director Javier Galvan.
“The West Ventura County industrial submarket boasts 48 million square feet of inventory with little vacancy and no availability of Class A space above 100,000 square feet,” DeGrinis said. “This project caters to unprecedented demand and stands as a testament to meeting the needs of a dynamic market and propelling economic growth in the surrounding area.”
In the third quarter of this year, the vacancy rate for industrial properties in West Ventura County was 0.8%, reflecting one of the tightest rates among all valley submarkets, according to data from Colliers.
The newly constructed campus will provide tenants with direct access to the 101 Freeway for convenient access to Ventura County, Santa Barbara County and Los Angeles County, as well as the Port of Hueneme – the only deep-water coastal port between Los Angeles and San Francisco.
The project marks Stream’s eighth industrial development in Southern California.